Bench is a remote bookkeeping service specializing in providing tax-ready financials for small businesses. Their clients are primarily spread across the U.S and Canada.
The company was formed in New York and has been in operation since 2002. They relocated to Vancouver, BC in the summer of 2013.
Bench is a software company offering bookkeeping solutions for small businesses. They provide the tools for business owners to track their finances, as well as assigning a professional accountant to help manage the finances of the business.
The company moved from the U.S to Vancouver, B.C. in 2013, and this is where all of their employees are based.
Although 95% of their clients are U.S based, their bookkeepers are versed in the accounting practices and laws across several countries. So if you’re based outside of the U.S you can still contact them and discuss your requirements.
They are a tech savvy bookkeeping service, and use their own intuitive software as well as an app to keep in touch with clients. So you can easily connect with them directly and ensure your financial records are up to date, as well as keeping in constant communication with your assigned accountant.
Bench Intro Video
Preparing tax returns and balancing the books is a time consuming part of running a business. Bench takes the burden of managing the financials from small business owners at an affordable price. Using their systems and team of bookkeepers and accountants, they take care of all the day-to-day financials of running a business so you can use your time working on other areas of your business.
Bench uses their software and an account manager to prepare the financials for a business on a monthly basis. They prepare cash-basis, tax-ready income statements and balance sheets and provide ongoing support.
They have a simple three step plan in place for new customers:
- They set up a call to discuss your business and answer any questions you have
- They prepare your financials for the first month for free so you can try their service and see how it works with your business before committing
- You review the income statement with your account manager and decide if you want to purchase an ongoing plan
Plans and Pricing
Bench have four main packages to choose from. Each package comes with monthly cash-basis income statements and a balance sheet, as well as ongoing communication with the team.
The starter package is the Micro package. You get 2 bank and credit card accounts, and 1 custom add-on with this package and it costs $125 per month. Each subsequent package provides you with one more bank or credit card account and 1 more custom add-on, with the prices being $175, $250 and $350 per month respectively.
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They understand that every business has some individual needs and welcome anyone to contact them directly to discuss their financials and what package would be most suitable.
They also offer a free trial. This is for one month’s worth of bookkeeping, allowing you to give their service a try and a get a feel for their software and processes.
Hiring a bookkeeper is one of the first additions many small businesses make. Bench seems like a nice hybrid between hiring a contract bookkeeper from an accounting firm or a freelance bookkeeper on Upwork or another platform, and the full “do-it-yourself” option of just using Excel spreadsheets, Freshbooks, or Quickbooks Online.
I think the one month free trial is a great opportunity to give Bench a try if you’re unsure of what to expect. If you have worked with Bench please leave some feedback below to help others with their decision.